Embraer Reports Growth in Net Income, Revenue

The aerospace company said increased deliveries of executive and commercial jets helped drive results at the end of 2022.

Jonathan Welsh

Friday, March 10, 2023 at 03:51 PM ET

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Embraer said strong sales of its Phenom 300 light jet helped drive its improving results. [Credit: Shutterstock]

Key Takeaways:

Embraer reported increased aircraft deliveries (nearly 13% year-over-year) and a growing order backlog of $17.5 billion in 2022, largely fueled by demand for executive jets.
While the company saw significant gains in Q4 2022 net income and revenue, it ended the full year with a larger net loss compared to 2021.
For 2023, Embraer forecasts continued growth, projecting increased deliveries for both commercial and executive jets, and higher revenues ranging from $5.2 billion to $5.7 billion.

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Embraer said its aircraft deliveries rose and its order backlog grew during 2022, driven in part by demand for the Brazilian company’s executive jets including its popular Phenom 300 series.

Net income for the fourth quarter totaled $22.9 million, or 12 cents per share, compared with $2.1 million, or one cent per share, during the fourth quarter of 2021. Revenue rose 53 percent during the quarter to $2 billion from $1.3 billion.